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666 West End Ave, New York,...

Dime Community Bank Provides $30.2M Refinance Loan For Multifamily Property On Upper West Side
FINANCEDMultiFamily

Dime Community Bank Provides $30.2M Refinance Loan For Multifamily Property On Upper West Side

666 West End Ave, New York, NY 10025, USA

$119,000,000

$61,466/SF

Building Size

1,936 SF

Asset Type

MultiFamily

Closing

May 5, 2020

AI

The multifamily property located at 680 West End Avenue in the Upper West Side has recently undergone a loan refinancing transaction. The property spans across 154,800 square feet and is owned by Empire Management, represented by Fred Ohebshalom. The lender involved in the transaction is Dime Community Bank, with Louis Ciniglio representing the bank.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $30,200,000
  • Address: 680 West End Avenue
  • Market: Upper West Side
  • Lender: Dime Community Bank - Louis Ciniglio
  • Landlord: Empire Management - Fred Ohebshalom

The loan refinancing, which took place on the specified date, involved a loan amount of $30,200,000. The transaction was facilitated by the lender, Dime Community Bank, and their representative, Louis Ciniglio. The property owner, Empire Management, was represented by Fred Ohebshalom. This refinancing deal aimed to provide financial stability and potential further investments for the multi-family property located at 680 West End Avenue.

Players

Signature Bank
Signature BankLender

Fred Ohebshalom

Empire Management

Landlord

$282.4M

vol

8 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93